KUALA LUMPUR, Malaysia (July 5): Yenher Holdings Bhd, a manufacturer of animal health and nutrition products, said that its initial public offering (IPO) of up to 106.9 million shares was oversubscribed by 13.8 times. The company said in a statement that it received 10,931 applications for 222.04 million shares.
Meanwhile, the Bumiputera category received 3,007 applications for 45.34 million IPO shares, representing a 5.05-fold oversubscription rate, while the other Malaysian public category received 7,924 applications for 167.7 million shares, representing a 22.56-fold oversubscription rate.
The 15 million IPO shares reserved for qualifying group directors and workers, as well as other individuals who have contributed to the group’s success, were fully subscribed.
The Ministry of International Trade and Industry (MITI) approved 38.69 million shares for private placement to other institutional and selected investors.
“A total of 10,957,600 IPO shares that were previously reserved for application by Bumiputera investors approved by the MITI were clawed back and reassigned to the private placement to other institutional and chosen investors,” the group stated.
The IPO’s sole principal adviser, underwriter, and placement agent is RHB Investment Bank Bhd./n
